There was again a drop in MTF market share, but
a significant increase in Market value traded in Q4
increasing by € 8.88bn compared with the previous
quarter.

MTF
Market Share (%)

Market Value Traded
(€billion/day)

Q3 2017 29.15% € 31.87bn
Q4 2017 26.89% € 40.75bn

Change -2.25% € 8.88bn

Fragmentationin EuropeLiquidMetrix analyses consolidated performance figures for stocks on majorEuropean indices and the changes from the previous quarter.

The charts and figures below are based upon Liq- uidMetrix’s unique benchmarking methodologythat provides accurate measurements of trends inmarket movements. Trading volumes on lit malketsincluding auctions are taken into account, as well asdark trading on the major MTFs.